Q2 profits up, revenue doubles for waste-to-energy group C&G

SINGAPORE - A rise in waste handling fees, more efficient operations and higher construction revenue sent second-quarter profits up at C&G Environmental Protection Holdings.

The mainboard-listed waste-to-energy group said on Monday its net profit rose 43 per cent over a year ago to HK$20.7 million (S$3.3 million) for the three months ended June 30.

Revenue doubled in the period to HK$275.1 million, on the back of higher contributions from both the group's operation services and its construction services divisions.

Operation services, which comprises power generation and waste handling fees, saw revenue increase 23.6 per cent to HK$130.8 million.

This was mainly due to a hike in waste handling fees for the group's Jinjiang and Huian plants, and improved operational efficiency in both waste processing and electricity generation at the plants, C&G said.

Construction services revenue also rose in line with the progress of construction work at the group's Thailand and Huian Phase 2 projects.